ETF closings are a natural part of the industry’s evolution as unpopular products are weeded out.

IndexIQ says it plans to close its South Korea Small Cap ETF (NYSEArca: SKOR). The firm said assets in the fund account for only about 1% of its total ETF assets.

The fund’s last day of trading will be Aug. 17, according to a press release. [ETF Focus: South Korea]

Through the end of the second quarter, 322 new ETFs have been launched around the globe while 42 ETFs have delisted, according to independent research firm ETFGI.

In May, there were 324 exchange traded products on Ron Rowland’s popular ETF Deathwatch list. Nearly a quarter of products that have a six-month track record are on the list.